Hydrogen Compressor Market Size
Global Hydrogen Compressors Market reached USD 1.9 billion in 2022 and is expected to reach USD 2.8 billion by 2030, growing with a CAGR of 4.6% during the forecast period 2024-2031. Hydrogen compressors play a vital role in the hydrogen energy infrastructure by facilitating the storage, transportation and distribution of hydrogen gas.
Hydrogen, as an energy carrier, is highly sought after due to its potential to provide clean and sustainable energy solutions across various sectors. Hydrogen compressors in these procedures provide a consistent and dependable supply of hydrogen at the proper pressure levels for maximum effectiveness.
Asia-Pacific is among the growing regions in the global hydrogen compressors market covering more than 1/3rd of the market and A lot of renewable energy sources, including sun and wind, are available throughout the region. For storing and using extra renewable energy, hydrogen is viewed as a possible possibility. For the electrolysis of water to create hydrogen using renewable power, hydrogen compressors are essential. By allowing the use of renewable energy in the hydrogen economy, this is made possible.
Market Scope
| Metrics | Details |
| CAGR | 4.6% |
| Size Available for Years | 2021-2030 |
| Forecast Period | 2023-2030 |
| Data Availability | Value (US$) |
| Segments Covered | Type, Pressure Limit, Flow Limit, Power Consumption, Oil Free, Running Reference, Application, End-User and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | Asia-Pacific |
| Report Insights Covered | Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Equipment Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
For more details on this report - Request for Sample
Market Growth and Trends
Growing Uses of Hydrogen in a Number of Industries
The hydrogen need has increased over the past several years across all industries. Compared to using conventional fuels, using hydrogen as an energy source has a reduced environmental effect. Governments throughout the world have recognized that the climate is changing and are enforcing strict emission standards, particularly in the industrial sector
Additionally, energy generation from clean sources is required for manufacturers. Because of regulations, factories employ hydrogen for sustainable energy generation because solar, wind and biogas cannot satisfy the scale of the energy demands.
According to the International Energy Agency (IEA), The demand for hydrogen increased to 94 million tonnes (Mt) in 2021, rebounding to levels seen before the pandemic (up from 91 Mt in 2019) and contained energy equivalent to around 2.5% of total energy consumption worldwide. The demand for novel applications increased to roughly 40 thousand tonnes (up 60% from 2020, albeit from a low base), while the majority of the growth came from conventional usage in manufacturing and refining.
Furthermore, hydrogen is now utilized in a number of industrial activities. Among the major uses that predominate hydrogen consumption is the manufacturing of steel, ammonia, methanol and oil. In the upcoming years, it is projected that the speed of industrialization would provide these end-use sectors a boost, driving up the demand for hydrogen and the machinery used in related operations.
Expanding Hydrogen Fuel Cell Technology
The development of hydrogen fuel cells has been expanding. The usage of hydrogen is revolutionizing the production of energy. The alternative of producing clean energy while preserving the environment is provided by hydrogen fuel cells. The demand for hydrogen fuel cells is growing because of their many potential uses, which vary from supplying vital energy backup for massive manufacturing sites to supplying electricity to cars and houses.
Because of hydrogen's capacity to store more energy while consuming less weight, hydrogen fuel cells are largely used to power electric vehicles. This makes them ideal for vehicles with large payloads and long ranges. Another factor influencing the development of hydrogen fuel cells is the growing desire for greener energy. Meanwhile, an important barrier for the market is the high production cost.
Additionally, improvements to fuel cells are always being made by fuel cell technology researchers to generate cleaner electric power. Governmental organizations devoted to broad innovation in fuel cell technology also assist these R&D efforts. For instance, support from the U.S. Department of Energy (DOE) has resulted in more than 580 patents, 30 commercially available products and more than 65 emerging innovations.
High Initial Costs and Constant Maintenance
The market for those devices faces difficulties due to the high initial cost and ongoing maintenance needs connected with hydrogen compressor systems. In the growing hydrogen economy, where hydrogen is used as a clean and sustainable energy source, hydrogen compressors are essential in a variety of industries.
However, the significant upfront expenses necessary to build up the necessary infrastructure prevent the acceptance and growth of hydrogen compressor technology. Compressing hydrogen gas at high pressures requires the use of sophisticated, specialized machinery called hydrogen compressors. The engineering, materials and safety precautions used in hydrogen compressor production contribute to their high price.
Market Segment Analysis
The global hydrogen compressors market is segmented based on type, pressure limit, flow limit, power consumption, oil free, running reference, application, end-user and region.
Rising Demand for Reciprocating Due to Rising Adoption of Hydrogen Fuel Cells Vehicles (FCVs)
The reciprocating segment holds a major share of around 39.1% in the global hydrogen compressors market. The popularity of hydrogen fuel cell cars as a zero-emission substitute for traditional automobiles is growing. Reciprocal compressors are employed in the infrastructure for hydrogen refueling, which is required since FCV use is rising. Approximate value in 2021, FCV sales grew 40% globally year over year, increasing the need for reciprocating hydrogen compressors at refueling stations by a similar percentage.
Furthermore, Reciprocating hydrogen compressors are extensively utilized in many industrial applications, including the petrochemical, chemical and hydrogen storage sectors. The expansion of these industries helps to drive up demand for reciprocating compressors. Approximate value in 2021, applications using hydrogen in the chemical processing sector grew by 15%, driving up demand for reciprocating hydrogen compressors sectors.
Market Geographical Share
Asia-Pacific Growing Advances and Investments in Chemical Industry
The Asia-Pacific hydrogen compressors market has witnessed significant growth and popularity covering 1/3th share in 2022. The beneficial government regulations in countries like China, Japan and India, the Asia-Pacific is anticipated to be an income producer for fuel cells in the following decades. For the reason to develop hydrogen stations in 2015, the Japanese government contributed significantly and invested USD 460 million.
As part of its industrial and energy strategy, Japan has worked to promote the hydrogen economy to reduce environmental pollution. The demand for petrochemicals and the hydrogen fuel cell car sector is expected to be high in the Japanese hydrogen compressor market. The demand for hydrogen compressors is increasing as a result of significant advances and investments in the chemical industries in the Asia Pacific.
In an effort to lessen environmental pollution, Japan is putting greater effort into developing its hydrogen economy as part of its energy and industrial policies. Japan is anticipated to have a substantial need for hydrogen compressors because of the country's petrochemical sector and hydrogen fuel cell automobiles.
Market Key Players
The major global players include Corken Compressors, Ariel Corporation, Burckhardt Compression AG, Hydro-Pac Inc., Haug Kompressoren AG, Sundyne, Howden Group, Indian Compressors Ltd, Atlas Copco and Gardner Denver.
COVID-19 Impact Analysis
The 2019 coronavirus (COVID-19) had a substantial detrimental impact on both individual lives and the community at large. It swiftly expanded over numerous nations and regions. It started as a human health issue and is now a danger to international trade, the economy and the financial system. Due to lockdowns brought on by the COVID-19 epidemic, several items in the hydrogen compressor industry were put on hold.
In addition, businesses that make hydrogen-air compressors are now operating at full capacity. This is anticipated to assist the market recovery by the end of 2022. When COVID-19 infection rates start to decline, makers of equipment and machinery must focus on protecting their workers, operations and supply networks to handle critical issues and establish new working practices.
Russia-Ukraine War Impact
The war may have an impact on the availability and cost of hydrogen compressors if supply networks for these goods are disrupted owing to trade restrictions or transportation problems. Geopolitical tensions may make investors and companies uneasy, which may cause them to be wary about making investments in the hydrogen industry, especially projects for hydrogen compressors.
The war between Russia and Ukraine may have an impact on regional energy dynamics and partnerships in Europe and other areas, which might have an impact on the advancement of hydrogen infrastructure and associated technologies. Geopolitical tensions may make investors and companies uneasy, which may cause them to be wary about making investments in the hydrogen industry, especially projects for hydrogen compressors.
By Type
- Centrifugal
- Reciprocating
- Screw
By Pressure Limit
- 200 to 500 psi
- 501 to 900 psi
- Others
By Flow Limit
- Low Flow
- Medium Flow
- High Flow
By Power Consumption
- Low Power (Up to 100 kW)
- Medium Power (100 kW to 500 kW)
- High Power (Above 500 kW)
By Oil Free
- Standard Oil-Free Compressors
- High-Purity Oil-Free Compressors
By Running Reference
- Pressure Reference
- Temperature Reference
- Flow Rate Reference
- Power Consumption Reference
- Efficiency Reference
By Application
- Energy storage solutions
- Grid balancing
- Food processing
- Power station cooling
- Others
By End-User
- Hydrogen Filling Stations
- Oil & Gas Energy Storage
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- On June 28, 2022, Ariel Corporation, the largest manufacturer of separable reciprocating gas compressors in the world partnered with Hoerbiger, a leader in the technology of reciprocating gas compressor components to provide non-lube compressor solutions capable of meeting the hydrogen compression needs of the future hydrogen mobility market, such as public transportation, large fleet vehicles, private trucking companies, trains, boats/ships and other high volume, high-performance applications.
- On October 28, 2021, Burckhardt Compression and Shell New Energy enter a partnership to develop heavy-duty hydrogen refueling station compressor systems. Burckhardt Compression is constructing a new test facility in Winterthur, Switzerland, as part of this project, which is focused on the development of sealing technologies and solutions for hydrogen refueling stations for heavy-duty vehicles.
- On July 27, 2022, Atlas Copco Ltd. acquired Glaston Compressor Services Ltd. (Glaston), a distributor and service provider of compressed air situated in Skelmersdale, Lancashire. This purchase will help the company's foothold in the North West of England grow more rapidly.
Why Purchase the Report?
- To visualize the global hydrogen compressors market segmentation based on type, pressure limit, flow limit, power consumption, oil free, running reference, application, end-user and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of hydrogen compressors market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global hydrogen compressors market report would provide approximately 102 tables, 110 figures and 181 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
